Market Trend: Bitcoins will go up in value today!

[nightwolf]

The U.S. president gave his speech on debt and forex markets are hammering the greeback. If BTC is liquid and in demand, it should regain it's loss of 1.5-2 bucks in value over the last week and go back to US $15 a pop! Go long guys, go long if you get any broker offers below $14.

 

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[mc_lovin]

I thought the same thing when I saw the obama-speech today!  Bitcoins go up by default because the rest of the world sinks down to rock bottom.

[toer]

Or if the dollar is down because of the debt, the BTC/USD would go up without really increasing in value

[norulezapply]

I hope this is true! Gonna wait and see

[QuickTrader]

If BTC does NOT go up what does that tell us about the NATURE of BTC?

[noob777]

Hmmm... oddly, BTC went down.  Gold & Silver are better long-term investments IMHO

[joulesbeef]

Hmmm... oddly, BTC went down.  Gold & Silver are better long-term investments IMHO

ahh you take the short term price change in a mostly unknown currency and use that info to state that gold and silver are better long term investments.

well lets ask some of the long term bitcoin holders how well their investment has turned out?

I get it is just your opinion but I dont think you can compare the completely new and novel concept of bitcoin with the traditional fall back commodies for when currencies drop.

When the shit is about to hit the fan... are you going to try the ole tried and true.. or take a chance on something new?

you know why gold is a better long term investment right now? history. People have seen other people use gold and weather out drops in currencies. People have not seen other people use bitcoin and weather out currencies.

people go with tried and true over new every time in an emergency. Once some bitcoin users come out of currency crashes smelling like roses, bitcoin will enjoy the same bumps as gold and silver.
IMHO.

[mrbashfo]

Sounds like a likely prediction knowing that people are wanting btcs more each day...

[atxweirdo]

If bitcoins gained more legitimacy would places like walmart start accepting them as a valid form of payment?
 

[joulesbeef]

If bitcoins gained more legitimacy would places like walmart start accepting them as a valid form of payment?

knowing walmart, I'd bet they would come out with a walcoin instead. Letting people get cheaper products but only is they shop with walcoins. You would probably 'mine' walcoins, by saying good shit about walmart in twitter, facebook, google+ w/e

[nightwolf]

BTC is a small community at the moment. From my observation, people are still more focused on "mining for coins" than actually spending it on commerce. You exchange for valuable goods, first or second hand. I'm not saying it's not happening... but could be more than what it is.

Also if you watch forex trends, JPY and CHF usually sky rocket when US announces it's in trouble. Why? Because they are safe haven currencies. Deflationary. At first BTC looks like a safe haven. But is it really? That's question. Would you as savvy currency investor hedge yourself by buying CHF, JPY, Gold, Oil futures or BTC?

 

[SHlFT]

Maybe it'll rocket up to $30 

[nightwolf]

Here's some more food for thought.

AUD has reached it's highest in 28 years! 1.0965 against the greeback. Yet, stuff nominally costs 3 times as much compared to US. A Playstation 3 game is $49 offself in Frys and costs $119 in EB in Sydney. That US$130!! AU banks were immune to GFC but its inhabitants are about to hit the street. 42% income tax, 2.5% medicare levy, QLD floods 0.5% levy, carbon tax! And Gillard's govt wants to take AU budget back to suplus. Good lord! So Australians could be in as deep a fiscal trouble as America (they just don't realise it) - - USA's was inherent trouble, Australia's may be voluntary (the govt. refuses to issue bonds - what's the point of a AAA credit rating).

Enough ranting.   Getting back to BTC. Why would Aussies (or anyone) want to invest in BTC (apart from the fact they already mine and earn for fun) in this weather?

[I have a feeling I may get pelted by BTC fans, Haha. Earthlings, I come in peace]    

[nightwolf]

Maybe it'll rocket up to $30 

Could do, could do. Here's hoping! Fingers crossed. 

[Mistafreeze]

$30 would be a nice change 

[SHlFT]

it would be a good change.

[nightwolf]

Boom, AUD 1.1065 folks!

[SHlFT]

Boom, AUD 1.1065 folks!

Thats the exchange rate to the USD?

[spinnaker]

Here's some more food for thought.

AUD has reached it's highest in 28 years! 1.0965 against the greeback. Yet, stuff nominally costs 3 times as much compared to US. A Playstation 3 game is $49 offself in Frys and costs $119 in EB in Sydney. That US$130!! AU banks were immune to GFC but its inhabitants are about to hit the street. 42% income tax, 2.5% medicare levy, QLD floods 0.5% levy, carbon tax! And Gillard's govt wants to take AU budget back to suplus. Good lord! So Australians could be in as deep a fiscal trouble as America (they just don't realise it) - - USA's was inherent trouble, Australia's may be voluntary (the govt. refuses to issue bonds - what's the point of a AAA credit rating).

Enough ranting.   Getting back to BTC. Why would Aussies (or anyone) want to invest in BTC (apart from the fact they already mine and earn for fun) in this weather?

[I have a feeling I may get pelted by BTC fans, Haha. Earthlings, I come in peace]    

42% income tax?! Atrocious. That alone is enough reason to flush your money into bitcoins. That is, assuming you make over 180k annually.

[nightwolf]

Wish I fell into that income bracket, Mate! Haha! {sigh dollar dreams}

Unfortunately no but yes, a very high progressive tax. And also the income tax law down under doesn't allow us to claim much in tax returns (mortage interest charge, transport to/fro work - all claimable stateside apparently). And we pay 3x the nominal price for imports. No price adjustments yet despite the powerful dollar.

 

Better than Denmark and Cuba (50%). We'd match 'em if we worked for a 2nd job over weekends. That'll be taxed @ 50% for sure.

Imagine getting yar wage paid in BTC. Drooool!   

[nightwolf]

Boom, AUD 1.1065 folks!

Thats the exchange rate to the USD?

Yes, friend. It fired up to that level when I posted. It still is there today.